UPDATE: Singapore stocks to watch Thursday: Singapore Airlines, Hi-P, Keppel REIT, SingPost, Creative, Sheng Siong

These are Singapore companies which may be in focus on Thursday, 31 October 2019: Singapore Airlines, Hi-P International, Keppel Corp., Keppel REIT, Lendlease Global Commercial REIT, Singapore Post, Creative Technology, Yanlord Land, Sheng Siong, Tung Lok Restaurants, MindChamps PreSchool and Asiatravel.com.

This article was originally published on Thursday, 31 October 2019 at 12:17 A.M. SGT; it has since been updated to include Parkway Life REIT, Indofood Agri and iFAST.

Singapore Airlines and Malaysia Airlines

Singapore Airlines and Malaysia Airlines Bhd. (MAB) signed on Wednesday a wide-ranging deal to significantly expand regional and long-haul codeshare routes and for revenue sharing on flights between Singapore and Malaysia, the Singapore carrier said.

Hi-P International

Hi-P International reported Wednesday its third quarter net profit fell 2.7 percent on-year to S$32.87 million as the gross profit margin declined.

Keppel Corp. and Keppel REIT

Keppel Corp. said Wednesday its stake in Keppel REIT increased to 48.3475 percent from 48.351 percent after its subsidiary Keppel REIT Management Ltd. acquired 8.17 million units in the REIT as payment of its management fee.

The management fee units were issued at S$1.2526 each, based on the volume weighted average price for all trades for the 10 business days before 30 September, Keppel said in a filing to SGX.

In a separate filing, Keppel Capital Holdings, Keppel Corp.’s asset management arm, said it became a substantial unitholder in Keppel REIT, with its deemed interest rising to 5.082 percent from 4.854 percent due to the issue of the management fee units. Keppel REIT Management Ltd. is a subsidiary of Keppel Capital.

Read more about Keppel REIT and Keppel Corp.

Lendlease Global Commercial REIT

BlackRock ceased to be a substantial unitholder of Lendlease Global Commercial REIT, with its deemed interest falling to 4.99 percent, from 5 percent previously, the private equity player said in a filing to SGX Wednesday.

The change in interest came after the disposal of 67,800 units for S$64,749 in a market transaction, the filing said.

Singapore Post

Singapore Post said Wednesday it will introduce two new postal service categories to meet demand from a changing postal landscape, as mail volumes fall and e-commerce shipments rise.

Creative Technology

Creative Technology reported Wednesday its fiscal first quarter net loss narrowed to US$5.67 million, from US$6.10 million in the year ago period as higher sales were offset by a larger foreign exchange loss and higher depreciation.

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Yanlord Land

Yanlord Land’s Yanlord Riverside Gardens project in Hangzhou has fully sold its initial batch of 120 apartment units, launched 26 October, the Chinese property developer said in a filing to SGX Wednesday.

Sheng Siong

Sheng Siong Group reported Wednesday its third quarter net profit rose 16.4 percent on-year to S$20.6 million on the addition of new stores and an improved gross profit margin.

Parkway Life REIT

Healthcare focused Parkway Life REIT reported Thursday its third quarter net property income rose 3.9 percent on-year to S$27.55 million, mainly on higher rent from the Singapore properties.

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Indofood Agri Resources

Indofood Agri reported Thursday it swung to a third quarter net loss of 126 billion rupiah from a year-ago net profit of 8 billion rupiah as crude palm oil (CPO) prices fell 7 percent and palm kernal prices dropped 32 percent.

iFAST

Fintech player iFAST reported Thursday its third quarter net profit fell 5.5 percent on-year to S$2.46 million amid continued investments in improving its platform capabilities.

Tung Lok Restaurants

Tres Maria Capital and Sugiono Wiyono Sugialam ceased to be substantial shareholders of Tung Lok Restaurants, with their deemed interest falling to zero from 38 percent previously, Sugialam said in a filing to SGX Wednesday.

Tres Maria Capital, which has Sugialam as its beneficiary owner, had held 42.77 percent of Zhou Holdings, which in turn holds 104.27 million shares in Tung Lok Restaurants, or a 38 percent stake, the filing said. Zhou Holdings’ other shareholder, Amazing Grace Investments, entered a deal to acquire the Tres Maria Capital’s stake in Zhou Holdings, the filing said.

MindChamps PreSchool

MindChamps PreSchool said Wednesday it opened its first purpose-built flagship center in Australia, located at Frenchs Forest in Sydney.

The new center will have 94 places for children aged from six weeks to six years, the preschool operator said in a filing to SGX.

Asiatravel.com

Asiatravel.com said Wednesday it is preparing an application to SGX RegCo for an extension of time and a proposal for resumption of trading.

The statement was in response to queries from SGX RegCo on the need for Asiatravel.com to submit a proposal to resume trading within 12 months of its shares’ suspension.

In addition, Asiatravel.com said it obtained a default judgement earlier this month for around S$7.35 million against Zhonghong Holding, which the Singapore-listed company is working to recover. The Singapore High Court also granted the company an extension of its moratorium on creditor action, Asiatravel.com said, adding it expects to convene a creditors’ meeting before 9 April.

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